Gold Reserve Files Motion to Disqualify Advisers in Citgo Sale

Gold Reserve filed a motion to disqualify Weil, Gotshal & Manges and Evercore as advisers to the Special Master appointed by judge to oversee Citgo Sale.

• Motion also seeks to disqualify the Special Master Robert B. Pincus and the district court judge in Citgo sale process
• Requested temporary stay of all decisions concerning any bids pending resolution of its disqualification motion
• Motion is based upon information that Weil has been representing Elliott Management while Citgo sale has been ongoing
  • Gold Reserve also said Weil and Evercore have ongoing relationships with some 2020 Bondholders that stand to receive substantial monetary payments ...